Petrol and diesel unchanged across India as 4-year cap holds
Petrol and diesel prices have not budged in India, even though global crude oil has been all over the place lately.
In Mumbai, petrol hovered around ₹103.50 per liter for the past 10 days, while diesel stayed flat in Delhi, Kolkata, and Bengaluru.
The government's four-year cap on fuel prices is still holding strong to help keep inflation in check.
Indian Oil holds prices, hike possible
Global crude shot up after the West Asia conflict this year, peaking at $126 a barrel before dropping to about $98 this week.
Even with these ups and downs, Indian Oil Corporation is keeping petrol, diesel, and domestic LPG rates steady to protect households from price shocks.
But heads up: Government sources say a hike might be coming soon if losses pile up from these capped rates.
Economists are watching wholesale inflation (since imports are pricier), but for now, stable pump prices mean everyday costs are not spiking for most people.